KADAMPA MEDITATION CENTRE LIVERPOOL
TRUSTEES REPORT
2024
Admin Directors Report:
1) Finances
A loan of £175,000 was taken out in March 2024 secured against the property. The property at the time was valued at £1.3 million. The loan was used to consolidate the existing smaller loan with a balance of approximately £46K. The monthly repayments on the loan are currently £1360 per month and with the current interest rates, interest is being debited at £1100 per month.
The funds from the above loan where taken out in order to carry out essential structural building works and with the intention (funds permitting) to replace the existing central heating system and to create a smaller kitchen in the residents area to take the pressure of the ground floor kitchen.
Summary of building works carried out during 2024
Rebuilding and securing of dormer on gompa side of house Replacement of guttering to LHS elevation Replacement of lead flashing Replacement of lead on bay window Stonework / brickwork repairs Replacement of sash windows x 16 Further drain repairs / tree root removal Electrical improvements following 5 yearly report Replacement of hot water system Creation of new kitchen on 2nd floor Repairs to the ceiling on back stairwell Re-instatement of room 13 following water damage Fireproofing back stairwell Replacement fire alarm panel and additions to detection for new kitchen Replacement of external lighting Installation of CCTV following 3 x break-ins
Current bank balances total £73,000 Secured Loan £172,400
Summary of accounts 2024 - compared to previous year
| Category | 2023 | 2024 | comment |
|---|---|---|---|
| Education Income | £39,200 | £49,800 | 25% increase class / course fees |
| Rent Income | 50,200 | 52,600 | Increase £2400 |
| shop | 1,100 | 1600 | Increase £500 |
| Total Income | 92,200 | 106,500 | Increase £14,200 |
| Admin expenses including insurance, bank charges, stationery |
13,000 | 19,200 | Increase £6200 - car insurance and interest on loans |
| Loan interest | £12200 | Secure loan / car loan |
|
| Repair / Maintenance | £6500 | £17900 | £11,400 increase - scaffold £9800 plus tree cutting £1600 |
| Utilities | £39,200 | £34,400 | Decrease £4800 - new hot water system Decreased use of heating |
| Total Expenditures | £89,000 | £123,000 | Increase cost £34K |
| Net operating income | £3400 | -£16400 | Reduction of £19800 due to expenditure on building improvements 2024 |
World Peace Cafe
The cafe was open for a short period and only after classes, September to December while we had a longer term working visitor. The income over expenditure for that period was £400.
Residents
2024 started with 9 paying residents and 2 x sponsored officers. 3 rooms were affected by water ingress all of which have now had remedial works carried out. The rooms are currently fully occupied. There were no concerns with the residents during the year and the centre remained harmonious.
Education
Class figures:
| Class | Teacher | Average attendance |
|---|---|---|
| Foundation Programme | Gen Tilopa | 16 |
| Mon morning meditation | K Gogden | 6 - cancelled |
| Wed Morning meditation | K Gogden | 6 |
| Fri Morning meditation | K Gogden | 5 |
| Thursday Lunch | Lisa Edmanson | 7 - cancelled |
| Monday GP | Gen Tilopa | 8 |
| Thursday GP | Gen Tilopa | 21 |
| Sunday GP | Gen Tilopa | 10 |
| Weekend courses | Gen Tilopa and various | 24 |
| Crosby | Eddie Daley | 5 |
| Formby | Pauline Kinrade | 12 |
| Maghull | K Sudhana | 5 - cancelled |
| Southport | K Sudhana | 10 |
| St Helens | Lesley Bowers and various | 9 |
| Palm House | Gen Tilopa | 35 - 3 week block only |
| Public Talk | Gen-la Dekyong | 386 |
Branch Income / Expenditure 2024
| Branch | Class Income | Rent / fuel | Profit / Loss |
|---|---|---|---|
| Southport | £2490 | 1380 | £1190 |
| Formby | £2850 | £1200 | £1650 |
| St Helens | £1666 | £1500 | £166 |
| Crosby | £1040 | £620 | £420 |
Members - currently 57
Appendix 1
D10 - notes to support accounts from accountant
Kadampa Meditation Centre Liverpool
Accounts 31 December 2024
1. Major building Works £67,307.80
This expenditure has been analysed and reallocated as follows:-
| Leasehold Improvements 2024 | £42,408.46 |
|---|---|
| Leasehold Improvements Kitchen 2024 | £8,962.74 |
| Equipment | £3,428.40 |
| Legal | £1,827.00 |
| Repairs & maintenance | £11,139.20 |
Attached a detailed analysis of the expenditure.
“Leasehold Improvements 2024” will be amortized at 1% pa over 100 years.
“Leasehold Improvements Kitchen 2024” will be amortized 10% pa over 10 years.
1. Income
Overall Income, including donations, Shop & WPC Income increased by £15,516 (16%)
2. Cost of sales
this includes the following: Shop expenditure £3027 WPC expenditure £537 Accommodation expenses. £8,354
Overall expenditure increased £1,823.
Shop income for 2024 was £1,632, compared to £1,081 in 2023, but shop expenditure, as above, was £3,027, which gives a loss of £1,395, Expenditure in 2023 also exceeded income the comparative income was £1,632
WPC Income for 2024 was £957 and expenditure £537
3. Employee Costs
Stipends were similar to last year,
a Pension liability on the balance sheet of £44 has been written back Training was marginally higher
Travel increased £1,165
4. Premises costs
Rents paid for hire of rooms etc. increased £3,698.
Rate – including water increased £697
But electric and gas was £5,377 lower
5. General administrative expenses
overall increased by £12,567, the main increase was Depreciation, including amortization charges, due to the writing down of the building costs and a full year’s depreciation on the car. Bank charges were £1,740 higher.
6. Legal and professional costs
Overall, £1,523 higher primarily due to promotional expenditure – advertising etc.
7. Interest payable
Interest charges were £13,456 for the year, compared to interest received in the prior year pf £2,180.
The main increase was interest charged on the new loan of £!1,576
BALANCE SHEET
Fixed Assets increased net of depreciation and amortization by £47,650.
Current assets increased by £56k due to cash at bank
Creditors falling due within one year and after more than one year increased primarily due to the loan repayments due on the new loan.
Registered number 02887663
Kadampa Meditation Centre Liverpool Company Limited by Guarantee Report and Accounts
31 December 2024
Kadampa Meditation Centre Liverpool Registered number: 02887663 Directors' Report
The director & trustees present their report and accounts for the year ended 31 December 2024.
Principal activities
The principal activity of the company is to promote the Buddhist faith through the activities of teaching, study, practice and the observance of moral discipline all within the Buddhist tradition of Je Tsongkhapa.
Directors & trustees
The following persons served as directors & trustees A38during the year:
J Andrews - Resigned 9 May 2024
P M Kinrade
E A Daley - Appointed 9 May 2024 T Oliver-Walsh - Appointed 9 May 2024
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 21 June 2025 and signed by its order.
E Pritchard Secretary
1
Kadampa Meditation Centre Liverpool Income & Expenditure Account for the year ended 31 December 2024
| Income Direct costs Gross profit Administrative expenses Operating loss Interest payable Loss before taxation Tax on loss Loss for the financial year |
2024 £ 110,032 (11,918) 98,114 (108,225) (10,111) (13,456) (23,567) - (23,567) |
2023 £ 94,516 (10,095) 84,421 (94,233) (9,812) 2,180 (7,632) - (7,632) |
|---|---|---|
2
Kadampa Meditation Centre Liverpool Registered number: 02887663 Balance Sheet as at 31 December 2024
| Notes Fixed assets Tangible assets 3 Current assets Debtors 4 Cash at bank and in hand Creditors: amounts falling due within one year 5 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 6 Net assets Capital and reserves Profit and loss account Shareholder's funds |
2024 £ 171,678 784 95,532 96,316 (28,815) 67,501 239,179 (157,252) 81,927 81,927 81,927 |
2023 £ 124,029 552 44,082 44,634 (18,206) 26,428 150,457 (44,963) 105,494 105,494 105,494 |
|---|---|---|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
E Daley Director Approved by the board on 21 June 2025
3
Kadampa Meditation Centre Liverpool Notes to the Accounts for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Income
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 1% of cost Plant and machinery 25% pa reducing balance Fixtures, fittings, tools and equipment 25% pa reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
4
Kadampa Meditation Centre Liverpool Notes to the Accounts for the year ended 31 December 2024
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
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|||||
|---|---|---|---|
|2|Employees|2024|2023|
|Number|Number|
|Average number of persons employed by the company|2|3|
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3 Tangible fixed assets
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||||||
|---|---|---|---|---|
|Plant and|
|Land and|machinery|Motor|
|buildings|etc|vehicles|Total|
|£|£|£|£|
|Cost|
|At 1 January 2024|142,245|43,297|10,998|196,540|
|Additions|51,371|3,428|-|54,799|
|At 31 December 2024|193,616|46,725|10,998|251,339|
|Depreciation|
|At 1 January 2024|33,311|38,742|458|72,511|
|Charge for the year|2,743|1,772|2,635|7,150|
|At 31 December 2024|36,054|40,514|3,093|79,661|
|Net book value|
|At 31 December 2024|157,562|6,211|7,905|171,678|
|At 31 December 2023|108,934|4,555|10,540|124,029|
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- 4 Debtors
Trade debtors
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|||
|---|---|
|2024|2023|
|£|£|
|784|552|
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5
Kadampa Meditation Centre Liverpool Notes to the Accounts for the year ended 31 December 2024
| 5 Creditors: amounts falling due within one year Bank loans and overdrafts Obligations under finance lease and hire purchase contracts Taxation and social security costs Other creditors 6 Creditors: amounts falling due after one year Bank loans |
2024 £ 16,356 8,350 422 3,687 28,815 2024 £ 157,252 |
2023 £ 4,611 10,795 522 2,278 18,206 2023 £ 44,963 |
|---|---|---|
7 Other information
Kadampa Meditation Centre Liverpool is a private company limited by guarantee without share capital and use of Limited exemption incorporated in England. Its registered office is: Greystoke
25 Aigburth Drive Sefton Park Liverpool L117 4JH
6
Kadampa Meditation Centre Liverpool Detailed income & expenditure account for the year ended 31 December 2024
This schedule does not form part of the statutory accounts
| Income Direct Expenses Gross profit Administrative expenses Operating loss Interest payable Loss before tax |
2024 £ 110,032 (11,918) 98,114 (108,225) (10,111) (13,456) (23,567) |
2023 £ 94,516 (10,095) 84,421 (94,233) (9,812) 2,180 (7,632) |
|---|---|---|
7
Kadampa Meditation Centre Liverpool Detailed income & expenditure account for the year ended 31 December 2024
This schedule does not form part of the statutory accounts
| Income Income Direct Expenses Purchases Other direct costs Administrative expenses Employee costs: Wages and salaries Pensions Staff training and welfare Travel and subsistence Premises costs: Rent Rates Light and heat General administrative expenses: Telephone and fax Stationery and printing Bank charges Insurance Software Repairs and maintenance Depreciation Sundry expenses Legal and professional costs: Accountancy fees Advertising and PR Other legal and professional |
2024 £ 110,032 3,564 8,354 11,918 10,210 (44) 993 2,298 13,457 8,555 5,668 27,186 41,409 1,600 2,662 3,436 4,599 1,594 17,891 7,150 3,370 42,302 1,350 6,398 3,309 11,057 108,225 |
2023 £ 94,516 2,285 7,810 10,095 10,512 - 928 1,133 12,573 4,857 4,971 32,563 42,391 1,543 787 1,696 3,707 1,919 14,558 3,066 2,459 29,735 975 4,870 3,689 9,534 94,233 |
|---|---|---|
8
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustees Kadampa Meditation Centre Liverpool On accounts for the year ended 31 December 2023 Charity no (if any) 1037091 Set out on pages 111-.,[fj I".}u j li I'i:: Li(a rs p , I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 3111212023 Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act. or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Date: 28/0812024 Name: K J Harter Relevant professional qualification(s) or body (if any): IER Oct 2018
Address: KBS Oakes Accountants Ltd Montgomery Chambers, 22 Hardwick Street Buxton, Derbyshire, SK17 6DH Section B Disclosure Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER Oct 2018